America's Servicing Company, or ASC, is not a lender and is not offering any mortgages to the public, as of November 2015. What the ASC does is provide managerial services for the mortgages originated by other lenders. Borrowers can contact the company for loan modification on a mortgage that the company is handling, according to MortgageLoan.com.
The ASC is a division of Wells Fargo Home Mortgage Loans specifically for servicing loans from other investors. These loans are usually packaged into securities by the investors and sold to the secondary market, as stated on the Wells Fargo website. Wells Fargo has no involvement in the underwriting of the loans serviced by the ASC, and it uses the ASC brand for its services as competitors do not want the Wells Fargo name to be associated with the loans.
Borrowers often seek loan modification to reduce the mortgage rates they are paying, extend the terms on the loan, come up with an alternative payment plan for past-due balances, waive late payments and other changes to make the payments more manageable. For its services, the ASC collects a fee from the loan payments and distributes the rest of the money it has collected to the lending institution, home insurance premiums and property tax payments.